Chinese Premier Li Keqiang. Photo: Reuters, Ng Han Guan

On Wednesday, Chinese Premier Li Keqiang announced a link connecting mainland and Hong Kong bond markets, set to be implemented this year. The Financial Times quoted Li as saying that not only would the system allow overseas capital to buy mainland bonds overseas, but also would help Hong Kong maintain its status as an international financial center. Bond Connect, as it has been dubbed, will not require investors to open an account on the mainland.